Recent years have seen a new type of tenant, those who have a good disposable income.
We are now finding people are turning to the private rental market and are content to rent for years rather than as a short-term stop-gap.
Another factor feeding the demand for rental property is the continuing drift North, particularly post Brexit, where mobility is a significant factor for those looking to move but not ready to buy and renting with a longer term aspiration to buy when the time is right.
Hastings offer both a Fully Managed Letting service where we take care of all the details as well as a Tenant Finding service for those who prefer to manage their property portfolio themselves.
“Service to others is the rent you pay for your room here on earth.”Muhammad Ali
Our fully managed letting service is especially suitable for these increasingly regulated times.
The service includes:
- Advice on setting up the rental
- Taking details and producing professional particulars
- Quality photographs
- Your property advertised on Hastings website and National Portals including Rightmove, Zoopla and the Edinburgh Solicitors Property Centre.
- Locally based and staffed offices
- Accompanied viewings when required
- Assessing prospective applicants and obtaining references
- Preparing a detailed inventory and record of condition
- Ensuring Landlords are aware of their legal obligations under the Lease and imposed by regulations including lodging any deposit in a regulated scheme.
- Monitor and collect rents
- Deal with general maintenance issues arising.
We also keep you, the landlord, informed and consult you on any major issues and seek approval for significant items of expenditure. However, generally we try not to trouble you unduly and generally look after the property on your behalf.
If you prefer to self manage your property
We can provide a marketing and advisory service to the point where the keys are handed over to the Tenant.
The service includes:
- Advice on setting up the rental
- Taking details and producing professional particulars
- Quality photographs
- Your property advertised on Hastings website and National Portals including Rightmove, Zoopla and the Edinburgh Solicitors Property Centre.
- Locally based and staffed offices
- Accompanied viewings when required
- Assessing prospective applicants and obtaining references
- Ensuring Landlords are aware of their legal obligations under the Lease and imposed by regulations including lodging any deposit in a regulated scheme.
If you are planning to rent out a property while you spend some time abroad
You should be aware that unless you obtain a tax exemption certificate agents are required by law to deduct tax from the rent and account to the Revenue. In general this applies if you are going to be abroad for more than 6 months.
There are offsetting allowances for agents costs, expenses, mortgage interest etc. and you should be able to sort that out and claim back any overpayment of tax through your tax return but you will need to claim this and meantime you will be out of pocket.
You may want to speak to your Accountant or if you don’t have one and prefer to use your in house accountants we can look after this for you.
We would suggest that you seek further guidance if you think the regulations might apply.
When letting your property it is essential to obtain appropriate cover as landlords and it is worth noting that your existing insurance may not cover you for all of these or any if you fail to advise them you are letting the property out.
Please note that in all cases you will need to be registered and every letting property should be registered under the Private Landlord Registration procedures. We are registered letting agents and before you market your property we need to ensure that you are registered as a private landlord as it is an offence to market a house to let without being registered. You can apply for registration online at www.landlordregistrationscotland.gov.uk or if you contact Scottish Borders Council the Local Authority a paper application can be provided.
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